Startup

An entity shall be considered as a Startup by Department of Industrial Policy &
Promotion :

If it is incorporated as a private limited company (as defined in the Companies Act, 2013)
or
registered as a
partnership firm (under section 59 of the Partnership Act, 1932) or limited liability
partnership
(under the Limited
Liability Partnership Act, 2008) in India; and

Up to seven years from the date of its incorporation/ registration ; however, in the case
of
Startups in the
biotechnology sector, the period shall be up to ten years from the date of its
incorporation /
registration; and

If its turnover for any of the financial years since incorporation / registration has not
exceeded
INR 25 crore; and

If it is working towards innovation, development or improvement of products or processes or
services, or if it is a
scalable business model with a high potential of employment generation or wealth creation.

Provided that an such entity formed by splitting up or reconsturction of a
business already in existence
shall not be
considered as a “Startup”

Source : Notification, 2017 DIPP, Ministry of Commerce & Industry

Indian Startup Ecosystem

#3

Rank, in terms of Startup base, out of 125 countries across the globe*

#37

Overall rank of Indian Startup Ecosystem out of 125 countries across the globe*

#140+

Incubators and Accelerators across the country**

Since 2014,
$33.62 billion has been invested in Startups in
India1,
with the fund flow increasing annually and angel and
series A funding accounting for most of the fund flow. As many
as 7 Startups in India have achieved unicorn status within first
9 months of 20182

Funding support provided to Startups by DIPP

Fund of Funds with a corpus of INR 10,000 crores

Credit Guarantee Fund for Starups

Tax exemption to Startups for 3 years and tax exemption on
Capital Gains and Investments above Fair Market Value

Organising startup fests for showcasing innovation and
providing a collaboration platform with VCs.

All incentives provided to MSME units in Punjab
Industrial and Business Development Policy 2017 are
also extended to Startups.

Punjab Startup Hub

The Government of Punjab is to set up a Startup Hub in the hub and spoke model
for contact with all elements of
ecosystem: incubators, industry, academics, institutes, investors, and regulatory institutions.
An MoU has been
signed with STPI, Mohali for 33,026 square feet of area, wherein a General Investment Account
of INR 10 crores will
be provided by Government of Punjab. The Startup hub shall provide complete access to labs and
support Startups
throughout their life cycle.

Need for Investment in Agro-Startups

For agriculture diversification and sustainable farming
innovative solutions for tackling growing crop losses are
needed Startups in
precision farming, agriculture machinery
marketplace and Farm to Business (F2B) domains
have the
potential to supercharge agriculture growth in the State.

Source : Agri Startups in Punjab need fiscal boost, 2018, Tribune

4 - As per the Industrial and Business Development Policy 2017, Department of
Industries & Commerce, Punjab